{
}
U.S. stock indexes closed lower on Thursday, pressured by a rise in tech stocks and bond yields following a hotter-than-expected producer price index report, which showed wholesale prices increased by 0.4% in November. Nvidia and Adobe led declines in the Nasdaq, with Adobe's stock plummeting nearly 14% due to a disappointing revenue outlook. The Dow Jones fell over 230 points, while jobless claims rose to 242,000, exceeding forecasts and marking the highest level since early October.
Stocks closed lower as the Dow experienced its longest losing streak since April, dropping 0.5% to 43,914. A hotter-than-expected inflation report and declines in major stocks like Nvidia and Tesla weighed on investor sentiment. ServiceTitan surged 42% in its market debut, while Adobe fell 13.7% due to weak revenue guidance. UnitedHealth Group's shares dropped 3.4% amid bipartisan efforts to break up large healthcare companies.
BlackRock recommends a 1-2% allocation to Bitcoin for investors, equating its risk to that of major tech stocks in a balanced portfolio. The firm emphasizes Bitcoin's unique return profile, driven by adoption rather than cash flows, and suggests it may serve as a tactical hedge against risks, similar to gold. With spot BTC ETFs gaining traction, institutional inflows could significantly impact Bitcoin's market dynamics in 2025.
Wall Street experienced a downturn with the Dow Jones Industrial Average down about 0.5%, the S&P 500 off 0.4%, and the Nasdaq Composite falling roughly 0.5%. Investor confidence wavered following mixed inflation data, with a hotter-than-expected producer price index raising concerns about the Federal Reserve's interest rate decisions. Additionally, Adobe's disappointing revenue forecast, revealing struggles with AI investments, contributed to the negative sentiment, causing its shares to plummet by about 14%.
BlackRock has endorsed a 2% allocation of Bitcoin (BTC) in multi-asset portfolios, suggesting it offers a similar risk profile to the "Magnificent Seven" tech stocks in a traditional 60/40 portfolio. While a small BTC allocation can diversify risk, exceeding 2% may significantly increase portfolio volatility. The firm anticipates that Bitcoin's volatility could decrease with broader institutional adoption, though this may limit future price surges. Bitcoin is currently trading at $101,573, reflecting a 1.1% decline over the past day.
BlackRock recommends a 1-2% bitcoin allocation for multi-asset portfolios, emphasizing its unique risk profile compared to traditional assets. Meanwhile, Step Finance plans to launch tokenized stock trading on Solana by Q1 2025, targeting the $14 billion real-world asset market. Avalanche has raised $250 million for its upcoming upgrade, aiming to significantly reduce blockchain deployment costs.
The Dow Jones Industrial Average and major indexes reacted to unexpected inflation data, with the Dow inching higher while the S&P 500 and Nasdaq fell. Adobe's stock plummeted 11% after a disappointing sales outlook, while Tesla and Nvidia also faced declines after recent highs. The producer price index rose 0.4% in November, exceeding expectations, and first-time jobless claims unexpectedly increased to 242,000.
Stock futures indicate a lower open for major U.S. indexes as the market pulls back from record highs, with the S&P 500 and Nasdaq down 0.2% and 0.4%, respectively. Large-cap tech stocks mostly declined in premarket trading, while Adobe shares fell 11% due to a disappointing revenue outlook despite strong quarterly results. Investors await key economic data, including jobless claims and wholesale inflation, which could impact the Federal Reserve's interest rate decisions.
The U.S. Supreme Court has dismissed Nvidia's motion to dismiss a class-action lawsuit alleging the company misled investors about its crypto mining-related GPU sales. The lawsuit, initially filed in 2018, claims Nvidia concealed over $1 billion in sales to cryptocurrency miners, with support from the SEC and DOJ for the case to proceed. Nvidia expressed readiness to defend itself, emphasizing the need for consistent standards in securities litigation.
President-elect Donald Trump inherits a historically high stock market, raising concerns about a potential crash. While past performance shows significant gains during his first term, current valuations suggest a possible short-lived correction. However, history indicates that patient investors may find opportunities even amid market volatility.
NVIDIA Corporation
Companies
| Symbol | NVDA |
| Name | NVIDIA Corporation |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Semiconductors & Semiconductor Equipment |
| Industry | Semiconductors & Semiconductor Equipment |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | Santa Clara |
| Zipcode | 95051 |
| Website | http://www.nvidia.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
indexes decline as tech stocks fall and inflation data surprises
United States Dollar
NVIDIA Corporation
Metagenomi, Inc.
Tesla, Inc.
Alphabet Inc.
Amazon.com, Inc.
Adobe Inc.
USA
Donald Trump
Joe Biden
Show more
22:18 12.12.2024
stocks decline as inflation concerns weigh on market sentiment
United States Dollar
NVIDIA Corporation
Tesla, Inc.
ServiceTitan, Inc. Class A Common Stock
Adobe Inc.
UnitedHealth Group Inc
USA
Brian Schwartz
Josh Hawley
Michael Raymond-James
Elizabeth Warren
Show more
22:09 12.12.2024
BlackRock recommends 1-2 percent Bitcoin allocation for diversified portfolios
21:46 12.12.2024
stocks decline as inflation data raises interest rate concerns
20:56 12.12.2024
BlackRock recommends 2 percent Bitcoin allocation for balanced investment portfolios
United States Dollar
NVIDIA Corporation
Microsoft Corporation
Tesla, Inc.
Google Inc.
Amazon.com, Inc.
BlackRock, Inc.
USA
Samara Cowen
Show more
20:41 12.12.2024
BlackRock suggests 2 percent bitcoin allocation as crypto market evolves
Dragonfly GF Co., Ltd
Parafi Capital LP
NVIDIA Corporation
Tesla, Inc.
Galaxy Digital Holdings Ltd.
BlackRock, Inc.
Michael Sonnenshein
George Harrap
Eric Balchunas
Show more
20:08 12.12.2024
dow jones reacts to inflation data as major stocks decline
United States Dollar
Trip.com Group Limited
Adobe Inc.
Manhattan Associates, Inc.
BlackRock, Inc.
Apple Inc.
NVIDIA Corporation
Tesla, Inc.
Amazon.com, Inc.
Broadcom Inc.
USA
Scott Lehtonen
Show more
15:48 12.12.2024
stock futures decline as market retreats from record highs
United States Dollar
Microsoft Corporation
Adobe Inc.
Apple Inc.
NVIDIA Corporation
Metagenomi, Inc.
Tesla, Inc.
Alphabet Inc.
Amazon.com, Inc.
Broadcom Inc.
USA
Elon Musk
Kamala Harris
Show more
14:06 12.12.2024
supreme court allows investor lawsuit against nvidia over crypto sales claims
13:51 12.12.2024
stock market outlook under president elect trump historical insights and concerns
United States Dollar
NVIDIA Corporation
CHN
USA
CAN
MEX
Donald Trump
Warren Buffett
Kamala Harris
Show more
10:51 12.12.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Global Trade Developments
Global Financial Events
Finance Mergers & Acquisitions
Banking Regulations
Retail and Consumer Goods
Startups & Entrepreneurship
Industry Mergers & Acquisitions
Market Analysis and Predictions
CEO Changes
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Commodities
GDP Growth & Recession Forecasts
Central Bank Actions
Hedge Funds & Private Equity
Domestic Politics
Countries:
Companies:
Barclays PLC
JPMorgan Chase & Co.
Apple Inc.
Tesla, Inc.
Banco Santander, S.A.
Berkshire Hathaway Inc.
The Goldman Sachs Group, Inc.
Commerzbank AG
Amazon.com, Inc.
NVIDIA Corporation
Morgan Stanley
Lloyds Banking Group plc
Bank of America Corporation
Wells Fargo & Company
SpaceXCoin USD
Deutsche Bank Money Market PP
Citigroup Inc.
Microsoft Corporation
Royal Bank of Canada
UBS Group AG
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Indian Rupee
Japanese Yen
Chinese Yuan
New Taiwan Dollar
Canadian Dollar
United Arab Emirates Dirham
South Korean Won
Vietnamese Đồng
Danish Krone
Indonesian Rupiah
Russian Ruble
Singapore Dollar
Chilean Peso
Egyptian Pound
Cambodian Riel
People: